Social media helps organizations create and maintain their brand image
and collect information, which helps in understanding customer needs.

“The use of social media for business generates a huge volume of data,
but creates a gap between understanding the data and using them to
benefit the organization. BI bridges this gap and converts unstructured
data into actionable insights,” says Faisal Ghaus, Vice President of
TechNavio.

Social BI uses enterprise tools such as CRM and marketing automation
with BI output to help organizations make enhanced and well-informed
decisions. It is usually managed by a third-party analytical software
solution that combines project management and social media engagement
techniques, which helps interpret the data generated from social
networking sites.

The Global Social BI Market was valued at US$0.57 billion in 2014 and is
expected to reach US$2.44 billion by 2019, growing at a CAGR of 33.79
percent.

“Big companies, BI vendors, and core social media marketing vendors,
including IBM, Oracle and SAP are expected to rely on mergers and
acquisitions to improve their global presence, and increase their reach
to customers as well as their market share over the forecast period,”
says Ghaus.

TechNavio
currently has more than 3000 market research reports on a huge range of
topics, including:

TechNavio is a leading global technology research and advisory company.

Founded in 2003, TechNavio has about 200 analysts globally and develops
over 2000 pieces of research every year, covering more than 500
technologies across 80 countries.

TechNavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at
media@technavio.com.